Albemarle profit jumps 69% despite lower volumes

SAN FRANCISCO (MarketWatch) -- Specialty chemicals maker Albemarle Corp.
ALB, -1.16%
reported late Monday first-quarter net income of $58.1 million, or 60 cents a share, up from $34.4 million, or 36 cents, a year ago. Revenue for the three months ended March 31 fell 3%, however, to $589.2 million from $607.4 million. Analysts surveyed by Thomson Financial had forecast the Richmond, Va.-based company would report earnings of 55 cents a share on $619 million in revenue. Albemarle shares closed ahead of the report at $44.08, a 38-cent gain for the day.

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